Which of the following is true about conflicts of interest?
A: A financial dimension must be present in order for it to be a conflict of interest.
B: Conflicts of interest increase the likelihood of bias.
C: A project must be funded by an external source in order for any conflicts of interest to be present.
D: Researchers are not permitted to have any conflicts of interest.
The correct answer is option B.
Conflicts of interest increase the likelihood of bias.
Conflict of interest:
Conflict of interest refers to a situation when a person has the power to make a particular decision from which he or she gets to have some particular benefit. Therefore, it always results in the scope of bias.
It leads to a bias situation because if a person has a certain power in a field, he may use his influences for the loss or benefits of others. Therefore, it can increase the likelihood of bias in a situation. Hence the correct option is B.
A conflict of interest arises in a situation where two competing interests occur for an individual. Sometimes, the interests of public duty came into competition with private duty.
Conflicts of interest may be financial or non-financial interests of the staff member. It can be the interests of a business partner and associate or the interests of a family member, friend or person in a close personal relationship with the staff member.